The volume of capital that Romanian startups raised in 2021 more than tripled compared to the previous year, going from EUR 30 million in 2020 to more than EUR 116.9 million in 2021, according to the Romanian Venture Report 2021 released by How to Web. Compared to the EUR 8.2 million value in 2017, it grew 13 times. This aligns Romania to a general trend as the level of overall European investment value exceeded EUR 100 billion, also a nearly triple growth compared to 2020 levels, the report notes. The 2021 report, which provides an analysis and collection of statistics on investments in Romanian startups in 2021, tracked 71 transactions. The total investment volume of 2021 also includes the EUR 51 million Series B round raised by FintechOS, the biggest investment of the year. Similar to the international venture capital market dynamics, the average size of the first investment rounds has also grown on the Romanian market by 88.8%, from EUR 357,000 in 2020 to EUR 647,000 in 2021. The average round sizes increased from 2020 by 33% for pre-seed and 70% for seed rounds, the report shows. A total of 55% of the follow-on deals were made at the seed stage, the majority with Romanian capital only, totaling a volume of EUR 36.2 million, which represents 31% of the overall 2021 volume (including FintechOS). The report tracked 18 transactions of more than EUR 1 million, representing 68% of the total 2021 investment volume. “When comparing 2021’s market dynamics with our historical data, we were stoked to see that the venture capital deals hit this milestone of more than EUR 100 million in volume and that this translates into a 3x growth from the previous year. This achievement came after just a couple of years from the moment when Bucharest-born UiPath reached unicorn status and in a year when another diamond in the rough, Bucharest-based fintech startup FintechOS, reeled in their Series B round,” Alexandru Agatinei, CEO of How to Web, said.
Two castles in Romania's Cluj county, namely the Rákóczi-Bánffy Castle in Gilău and Bánffy Castle in Răscruci, will reopen in the coming weeks and host events dedicated to visitors. Rákóczi-Bánffy Castle in Gilău, one of Transylvania's historical monuments, will reopen its doors after a seven-year renovation process aimed at transforming it into a multifunctional cultural […]
The second edition of the Chicago Romanian Community Summit will take place on May 25, aiming to unite the Romanian community in Chicago. Leaders from various sectors - business, education, culture, and religion - will come together during the event to celebrate their shared heritage and establish a forum for addressing challenges. The summit also […]
In a recent promotional spot, Nicola Coughlan, Claudia Jessie, and Hannah Dodd, all part of the cast for Netflix’s hit show Bridgerton, played a game of True or False, Romanian Romance Edition. The game consisted of saying whether or not a particular superstition was actually true in Romanian folklore or if it was made up. The first […]
The organizers of the Untold and Neversea festivals in Romania announced the start of the 10th edition of their blood donation campaign - Blood Network. Under this initiative, blood donors can get free one-day tickets for the two summer events. This year's Blood Network runs between May 18 and June 30. Music fans can donate […]
Romanian mountaineer Adrian Ahriţculesei reached the summit of Mount Everest, Earth's highest mountain above sea level, after a 12-hour climb. The expedition, which started on April 11, is scheduled to end on May 30. "Ahriţculesei Adrian conquered the Roof of the World. He is on Everest (8,848 m). Next comes the hardest part of this […]
Hesburger, the largest chain of fast food restaurants in Finland and the Baltic countries, has entered the Romanian market with a first restaurant in Râmnicu Vâlcea. A family business with a history of over 50 years, Hesburger currently operates in nine countries and has over 470 restaurants. The company aims to open 10 new locations […]
